Accredited Solutions Makes Final Decision to Not Go Forward With Reverse Stock Split

Rhea-AI Summary

Accredited Solutions (OTC: ASII), parent company of Diamond Creek Water, has decided against a reverse stock split and will not increase its authorized shares. The company believes its Diamond Creek Water asset is undervalued based on market comparables, particularly considering its recent partnership with Apokar.

CEO Eduardo Brito acknowledged that the company has not effectively communicated its growth strategy and plans to diversify asset holdings through strategic acquisitions in e-commerce. The company plans to execute these plans and inform shareholders in the coming weeks and months.

Accredited Solutions is also expediting negotiations with convertible debt holders as it concludes the first stage of its turnaround plan. The company distributes ionized alkaline bottled water in major grocery and convenience store chains.

Positive

• Decision against reverse stock split, potentially preserving shareholder value
• Recent partnership with Apokar, potentially enhancing market position
• Plans for strategic acquisitions in e-commerce to diversify asset holdings
• Ongoing turnaround plan with first stage nearing conclusion
• Expediting negotiations with convertible debt holders

Negative

• Acknowledgment of ineffective communication of growth strategy to shareholders
• Presence of convertible debt, which could potentially dilute shareholder value

News Market Reaction – ASII

+100.00%

1 alert

+100.00% News Effect

On the day this news was published, ASII gained 100.00%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

NEW YORK, NY, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Accredited Solutions, Inc. (OTC: ASII) ("Accredited Solutions" or the "Company"), the parent company of Diamond Creek Water, an ionized alkaline bottled water distributed in major grocery and convenience store chains, has decided against a reverse stock split of its common stock. Additionally, it will not increase its number of its authorized shares.

"Based on market comparables, particularly the revenue multiples of similar premium water brands, we believe our Diamond Creek Water asset is significantly undervalued, especially in light of our recent partnership with Apokar. Moreover, we acknowledge that we have not effectively communicated the next stage of our growth strategy and our plans to diversify our asset holdings through strategic and profitable acquisitions in e-commerce to our shareholders. This strategy will become clearer in the coming weeks and months as we begin executing on these plans and properly inform our shareholders.

“In addition, as we conclude the first stage of our company's turnaround plan, we will expedite and finalize our ongoing negotiations with our convertible debt holders in the coming days," said the company's CEO, Mr. Eduardo Brito.

Relevant Links:

https://www.diamondcreekwater.com
https://www.apokar.com/

Safe Harbor Statement: Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and the company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.

Accredited Solutions, Inc. Contact:
contact information:
info@diamondcreekwater.com
Follow Us on:
X (Twitter): @asii_Inc

Source:
Accredited Solutions, Inc.
https://www.diamondcreekwater.com

FAQ

Why did Accredited Solutions (ASII) decide against a reverse stock split?

Accredited Solutions believes its Diamond Creek Water asset is undervalued based on market comparables, particularly considering its recent partnership with Apokar. The company wants to preserve shareholder value and focus on executing its growth strategy and diversification plans.

What are Accredited Solutions' (ASII) plans for future growth?

Accredited Solutions plans to diversify its asset holdings through strategic and profitable acquisitions in e-commerce. The company intends to execute these plans and provide more details to shareholders in the coming weeks and months.

How is Accredited Solutions (ASII) addressing its convertible debt?

Accredited Solutions is expediting and finalizing ongoing negotiations with its convertible debt holders in the coming days as it concludes the first stage of its company turnaround plan.

What is the main product of Accredited Solutions (ASII)?

Accredited Solutions' main product is Diamond Creek Water, an ionized alkaline bottled water distributed in major grocery and convenience store chains.